Andina Bottling Co Inc 6-K, filed May 4, 2023

Andina Bottling Co Inc (AKO-A)

6-K 2023-05-04 For: 2023-03-31

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Added on April 04, 2026

About this 6-K

Andina Bottling Co Inc filed this 6-K on May 4, 2023.

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I.	Interim Consolidated Statements of Financial Position at March 31, 2023 (non-audited) and December 31, 2022	1

II.	Interim Consolidated Statements of Income by Function (non-audited)	3

III.	Interim Consolidated Statements of Comprehensive (Loss) Income (non-audited)	4

IV.	Interim Consolidated Statements of Changes in Equity (non-audited)	5

V.	Interim Consolidated Statements of Cash Flows (non-audited)	6

VI.	Notes to the Interim Consolidated Financial Statements	7

1. CORPORATE INFORMATION	7
2 – BASIS OF PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS AND APPLICATION OF ACCOUNTING CRITERIA	8
3 – FINANCIAL REPORTING BY SEGMENT	25
5 – OTHER CURRENT AND NON-CURRENT FINANCIAL ASSETS	28
6 – OTHER CURRENT AND NON-CURRENT NON-FINANCIAL ASSETS	29
7 – TRADE ACCOUNTS AND OTHER ACCOUNTS RECEIVABLE	30
8 – INVENTORIES	32
9 – TAX ASSETS AND LIABILITIES	32
10 – INCOME TAX EXPENSE AND DEFERRED TAXES	33
11 – PROPERTY, PLANT AND EQUIPMENT	35
12 – RELATED PARTIES	38
13 – CURRENT AND NON-CURRENT EMPLOYEE BENEFITS	40
14 – INVESTMENTS IN ASSOCIATES ACCOUNTED FOR USING THE EQUITY METHOD	41
15 – INTANGIBLE ASSETS OTHER THAN GOODWILL	44
16 – GOODWILL	45
17 – OTHER CURRENT AND NON-CURRENT FINANCIAL LIABILITIES	46
18 – TRADE AND OTHER ACCOUNTS PAYABLE	57
19 – OTHER PROVISIONS, CURRENT AND NON-CURRENT	57
20 – OTHER NON-FINANCIAL LIABILITIES	58
21 – EQUITY	58
22 – DERIVATIVE ASSETS AND LIABILITIES	61
23 – LITIGATION AND CONTINGENCIES	64
24 – FINANCIAL RISK MANAGEMENT	68
25 – EXPENSES BY NATURE	72
26 – OTHER INCOME	72
27 – OTHER EXPENSES BY FUNCTION	72
28 – FINANCIAL INCOME AND EXPENSES	73
29 – OTHER (LOSSES) GAINS	73
30 – LOCAL AND FOREIGN CURRENCY	74
31 – ENVIRONMENT (Non-audited)	78
32 – SUBSEQUENT EVENTS	78

ASSETS	NOTE	03.31.2023		12.31.2022
		ThCh$		ThCh$
Current assets:

Cash and cash equivalents	4		259,267,836		291,681,987
Other financial assets	5		247,479,307		263,044,869
Other non-financial assets	6		24,445,675		26,957,000
Trade and other accounts receivable, net	7		223,476,662		279,770,286
Accounts receivable from related companies	12.1		12,712,063		15,062,167
Inventory	8		243,867,857		245,886,656
Current tax assets	9		16,027,572		39,326,427
Total Current Assets			1,027,276,972		1,161,729,392

Non-Current Assets:
Other financial assets	5		100,429,557		94,852,711
Other non-financial assets	6		57,420,002		59,672,266
Trade and other receivables	7		603,366		539,920
Accounts receivable from related parties	12.1		109,318		109,318
Investments accounted for under the equity method	14		91,687,930		92,344,598
Intangible assets other than goodwill	15		652,197,021		671,778,888
Goodwill	16		122,442,598		129,023,922
Property, plant and equipment	11		780,620,126		798,221,259
Deferred tax assets	10.2		2,121,935		2,428,333
Total Non-Current Assets			1,807,631,853		1,848,971,215

Total Assets			2,834,908,825		3,010,700,607

LIABILITIES AND EQUITY	NOTE	03.31.2023			12.31.2022
		ThCh$			ThCh$
LIABILITIES
Current Liabilities
Other financial liabilities	17		331,884,530			367,302,080
Trade and other accounts payable	18		308,312,461			384,801,630
Accounts payable to related parties	12.2		86,499,143			90,248,067
Other provisions	19		1,333,147			1,591,644
Tax liabilities	9		25,881,734			14,615,447
Employee benefits current provisions	13		28,881,497			48,391,806
Other non-financial liabilities	20		13,439,296			42,294,460
Total Current Liabilities			796,231,808			949,245,134

Other financial liabilities	17		837,258,095			904,802,058
Trade accounts and other accounts payable	18		2,534,462			3,015,284
Accounts payable to related companies	12.2		9,820,905			10,354,296
Other provisions	19		45,203,705			47,103,783
Deferred tax liabilities	10.2		166,709,395			165,778,556
Employee benefits non-current provisions	13		16,409,033			17,409,793
Other non-financial liabilities	20		26,573,226			29,589,051
Total Non-current liabilities			1,104,508,821			1,178,052,821

EQUITY	21
Issued capital			270,737,574			270,737,574
Retained earnings			796,565,634			716,975,127
Other reserves			(162,746,386	)		(132,452,557	)
Equity attributable to owners of the parent			904,556,822			855,260,144
Non-controlling interests			29,611,374			28,142,508
Total Equity			934,168,196			883,402,652
Total Liabilities and Equity			2,834,908,825			3,010,700,607

		01.01.2023			01.01.2022
	NOTE	03.31.2023			03.31.2022
		ThCh$			ThCh$
Net sales			701,855,634			624,227,678
Cost of sales	8 - 25		(425,264,069	)		(378,019,256	)
Gross Profit			276,591,565			246,208,422
Other income	26		190,276			174,492
Distribution expenses	25		(66,289,316	)		(57,763,526	)
Administrative expenses	25		(111,965,896	)		(93,026,545	)
Other expenses	27		(4,571,061	)		(4,002,681	)
Other (loss) gains	29		(18	)		-
Financial income	28		11,628,985			11,305,460
Financial expenses	28		(13,916,563	)		(13,614,476	)
Share of profit of investments in associates and joint ventures accounted for using the equity method	14.3		1,070,261			(512,998	)
Foreign exchange differences			(4,502,971	)		(2,233,683	)
Income by indexation units			(7,132,239	)		(11,894,713	)
Net income before income taxes			81,103,023			74,639,752
Income tax expense	10.1		(36,005,560	)		(40,426,355	)
Net income			45,097,463			34,213,397

Net income attributable to
Owners of the parent			43,338,721			32,997,634
Non-controlling interests			1,758,742			1,215,763
Net income			45,097,463			34,213,397

			Ch$			Ch$
Earnings per Share, basic and diluted in ongoing operations
Earnings per Series A Share	21.5		43.60			33.20
Earnings per Series B Share	21.5		47.97			36.52

		Other reserves
	Issued Capital	Reserves for exchange rate differences		Cash flow hedge reserve		Actuarial gains or losses in employee benefits		Other reserves	Total other reserves		Retained earnings	Equity attributable to owners of the parent		Non-controlling interests		Total equity
	ThCh$	ThCh$		ThCh$		ThCh$		ThCh$	ThCh$		ThCh$	ThCh$		ThCh$		ThCh$
Opening balance as of 01.01.2023	270,737,574	(495,483,366	)	(62,344,501	)	(7,776,316	)	433,151,626	(132,452,557	)	716,975,127	855,260,144		28,142,508		883,402,652
Changes in equity
Comprehensive income
Net income	-	-		-		-		-	-		43,338,721	43,338,721		1,758,742		45.097.463
Other comprehensive (loss) income	-	(86,171,266	)	54,925,022		952,415		-	(30,293,829	)	-	(30,293,829	)	(289,876	)	(30.583.705	)
Total comprehensive (loss) income	-	(86,171,266	)	54,925,022		952,415		-	(30,293,829	)	43,338,721	13,044,892		1,468,866		14.513.758
Dividends	-	-		-		-		-	-		-	-		-		-
Increase (decrease) from other changes *	-	-		-		-		-	-		36,251,786	36,251,786		-		36,251,786
Total changes in equity	-	(86,171,266	)	54,925,022		952,415		-	(30,293,829	)	79,590,507	49,296,678		1,468,866		50,765,544
Ending balance as of 03.31.2023	270,737,574	(581,654,632	)	(7,419,479	)	(6,823,901	)	433,151,626	(162,746,386	)	796,565,634	904,556,822		29,611,374		934,168,196

		01.01.2023			01.01.2022
Cash flows provided by (used in) Operating Activities	NOTE	03.31.2023			03.31.2022
		ThCh$			ThCh$
Cash flows provided by Operating Activities
Receipts from the sale of goods and the rendering of services (including taxes)			1,027,696,553			916,114,276
Payments for Operating Activities
Payments to suppliers for goods and services (including taxes)			(732,193,645	)		(641,046,097	)
Payments to and on behalf of employees			(77,985,090	)		(65,682,453	)
Other payments for operating activities (value-added taxes on purchases, sales and others)			(117,862,065	)		(89,784,952	)
Dividends received			-			-
Interest payments			(20,718,263	)		(21,671,316	)
Interest received			4,963,359			3,060,313
Income tax payments			(12,579,928	)		(13,527,145	)
Other cash movements (tax on bank debits Argentina and others)			(1,699,187	)		4,053,438
Cash flows provided by (used in) Operating Activities			69,621,734			91,516,064

Cash flows provided by (used in) Investing Activities
Proceeds from sale of Property, plant and equipment			-			52,196
Purchase of Property, plant and equipment			(50,996,010	)		(35,921,307	)
Purchase of intangible assets						-
Payments from futures, forwards, options and swaps agreements						-
Collection on forward, term, option and financial exchange agreements			35,197			(1,402,194	)
Purchases of other current financial assets			(571,211	)		68,549,666
Net cash flows used in Investing Activities			(51,532,024	)		31,278,361

Cash Flows generated from (used in) Financing Activities
Collection for changes in ownership interest in subsidiaries			-			-
Proceeds (payments) from short term loans			-			94,860
Loan payments			(26,222	)		(40,871	)
Lease liability payments			(1,602,069	)		(1,301,501	)
Dividend payments by the reporting entity			(28,823,063	)		(28,823,063	)
Other cash inflows (outflows) (placement and payment of public debt)			(3,056,461	)		(4,733,979	)
Net cash flows (used in) generated by Financing Activities			(33,507,815	)		(34,804,554	)
Net increase in cash and cash equivalents before exchange differences			(15,418,105	)		87,989,871
Effects of exchange differences on cash and cash equivalents			(11,496,641	)		1,377,289
Effects of inflation in cash and cash equivalents in Argentina			(5,499,405	)		(3,941,344	)
Net increase (decrease) in cash and cash equivalents			(32,414,151	)		85,425,816
Cash and cash equivalents – beginning of period	4		291,681,987			304,312,020
Cash and cash equivalents - end of period	4		259,267,836			389,737,836

		Ownership interest
		03.31.2023			12.31.2022
Taxpayer ID	Company Name	Direct	Indirect	Total	Direct	Indirect	Total
96.842.970-1	Andina Bottling Investments S.A.	99.9	0.09	99.99	99.9	0.09	99.99
96.972.760-9	Andina Bottling Investments Dos S.A.	99.9	0.09	99.99	99.9	0.09	99.99
Foreign	Andina Empaques Argentina S.A.	-	99.98	99.98	-	99.98	99.98
96.836.750-1	Andina Inversiones Societarias S.A.	99.98	0.01	99.99	99.98	0.01	99.99
76.070.406-7	Embotelladora Andina Chile S.A.	99.99	-	99.99	99.99	-	99.99
Foreign	Embotelladora del Atlántico S.A.	0.92	99.07	99.99	0.92	99.07	99.99
96.705.990-0	Envases Central S.A.	59.27	-	59.27	59.27	-	59.27
Foreign	Paraguay Refrescos S.A.	0.08	97.75	97.83	0.08	97.75	97.83
76.276.604-3	Red de Transportes Comerciales Ltda.	99.9	0.09	99.99	99.9	0.09	99.99
77.427.659-9	Re-Ciclar S.A.	60.00	-	60.00	60.00	-	60.00
Foreign	Rio de Janeiro Refrescos Ltda.	-	99.99	99.99	-	99.99	99.99
78.536.950-5	Servicios Multivending Ltda.	99.9	0.09	99.99	99.9	0.09	99.99
78.861.790-9	Transportes Andina Refrescos Ltda.	99.9	0.09	99.99	99.9	0.09	99.99
96.928.520-7	Transportes Polar S.A.	99.99	-	99.99	99.99	-	99.99
76.389.720-6	Vital Aguas S.A.	66.50	-	66.50	66.50	-	66.50
93.899.000-k	VJ S.A.	15.00	50.00	65.00	15.00	50.00	65.00

Company	Functional Currency
Embotelladora del Atlántico	Argentine Peso (ARS)
Embotelladora Andina	Chilean Peso (CLP)
Paraguay Refrescos	Paraguayan Guaraní (PYG)
Rio de Janeiro Refrescos	Brazil Real (BRL)

Date	USD	BRL	ARS	PYG
03.31.2023	790.41	155.58	3.78	0.109
12.31.2022	855.86	164.03	4.83	0.116
03.31.2022	787.98	166.32	7.10	0.113

Assets		Range in years
Buildings		15-80
Plant and equipment		5-20
Warehouse installations and accessories		10-50
Furniture and supplies		4-5
Motor vehicles		4-10
IT equipment		3-5
Other Property, plant and equipment		3-10
Bottles and containers		1-8

	2022 Discount rates
Argentina		33.1	%
Chile		9.3	%
Brazil		10.5	%
Paraguay		11.3	%

Level 1:	Quote values (unadjusted) in active markets for identical assets or liabilities

Level 2:	Valuation techniques for which the lowest level variable used, which is significant for the calculation, is directly or indirectly observable

Level 3:	Valuation techniques for which the lowest level variable used, which is significant for the calculation, is not observable.

For the period ended March 31, 2023	Operation in Chile			Operation in Argentina			Operation in Brazil			Operation in Paraguay			Inter-segment eliminations			Consolidated, total
	ThCh$			ThCh$			ThCh$			ThCh$			ThCh$			ThCh$
Revenues from ordinary activities		312,533,035			174,873,578			161,324,995			53,841,508			(717,482	)		701,855,634
Cost of sales		(207,685,479	)		(86,876,407	)		(101,874,081	)		(29,545,584	)		717,482			(425,264,069	)
Distribution expenses		(27,045,265	)		(23,934,106	)		(12,107,795	)		(3,202,150	)		-			(66,289,316	)
Administrative expenses		(47,194,470	)		(30,838,692	)		(26,691,084	)		(7,241,650	)		-			(111,965,896	)
Financial income		4,378,341			4,574,255			2,429,597			246,792			-			11,628,985
Financial costs		(6,931,002	)		(212,341	)		(6,773,220	)		-			-			(13,916,563	)
Net financial costs		(2,552,661	)		4,361,914			(4,343,623	)		246,792			-			(2,287,578	)
Share of entity in income of associates accounted for using the equity method, total		892,297			-			177,964			-			-			1,070,261
Income tax expense		(15,373,833	)		(15,275,084	)		(3,737,614	)		(1,619,029	)		-			(36,005,560	)
Oher income (expenses) (*)		(6,264,404	)		(7,407,403	)		(2,510,197	)		165,990			-			(16,016,014	)
Net income of the segment reported		7,309,220			14,903,801			10,238,565			12,645,877			-			45,097,463

Depreciation and amortization		10,684,367			7,706,514			7,467,659			3,275,199			-			29,133,739
														-
Current assets		471,640,732			130,120,436			346,609,780			78,906,024			-			1,027,276,972
Non-current assets		782,452,962			236,338,911			536,283,320			252,556,660			-			1,807,631,853
Segment assets, total		1,254,093,694			366,459,348			882,893,100			331,462,684			-			2,834,908,825

Carrying amount in associates accounted for using the equity method, total		55,019,439			-			36,668,491			-			-			91,687,930

Segment disbursements of non-monetary assets		27,965,380			10,742,336			8,173,208			4,115,086			-			50,996,010

Current liabilities		533,016,499			109,008,748			119,033,556			35,173,005						796,231,808
Non-current liabilities		564,225,880			26,114,552			498,675,934			15,492,455						1,104,508,821
Segment liabilities, total		1,097,242,379			135,123,299			617,709,491			50,665,460						1,900,740,629

Cash flows (used in) provided by in Operating Activities		13,354,484			22,918,684			14,022,242			19,326,324			-			69,621,734
Cash flows (used in) provided by Investing Activities		(28,501,394	)		(10,742,336	)		(8,173,208	)		(4,115,086	)		-			(51,532,024	)
Cash flows (used in) provided by Financing Activities		(32,483,547	)		(330,172	)		(694,096	)		-			-			(33,507,815	)

For the period ended March 31, 2022	Operation in Chile			Operation in Argentina			Operation in Brazil			Operation in Paraguay			Inter-segment eliminations			Consolidated, total
	ThCh$			ThCh$			ThCh$			ThCh$			ThCh$			ThCh$
Revenues from ordinary activities		290,996,690			152,350,585			128,510,463			53,127,005			(757,065	)		624,227,678
Cost of sales		(190,351,841	)		(78,314,193	)		(81,850,876	)		(28,259,411	)		757,065			(378,019,256	)
Distribution expenses		(23,949,483	)		(21,112,857	)		(9,678,706	)		(3,022,480	)		-			(57,763,526	)
Administrative expenses		(41,479,768	)		(23,904,170	)		(20,598,273	)		(7,044,334	)		-			(93,026,545	)
Subtotal Operating Income		35,215,598			29,019,365			16,382,608			14,800,780			-			95,418,351
Financial income		6,296,939			2,804,502			1,986,058			217,961			-			11,305,460
Financial costs		(6,868,355	)		(51,176	)		(6,694,945	)		-			-			(13,614,476	)
Net financial costs		(571,416	)		2,753,326			(4,708,887	)		217,961			-			(2,309,016	)
Share of entity in income of associates accounted for using the equity method, total		599,540			-			(1,112,538	)		-			-			(512,998	)
Income tax expense		(24,883,732	)		(11,543,937	)		(2,208,148	)		(1,790,538	)		-			(40,426,355	)
Oher income (expenses) (*)		(10,985,226	)		(4,582,024	)		(2,486,520	)		97,185			-			(17,956,585	)
Net income of the segment reported		(625,236	)		15,646,730			5,866,515			13,325,388			-			34,213,397

Depreciation and amortization		9,764,128			6,980,738			6,306,148			2,907,586			-			25,958,600

Current assets		643,385,604			125,960,392			192,040,606			71,900,183			-			1,033,286,785
Non-current assets		706,019,468			208,304,086			729,449,624			257,206,313						1,900,979,491
Segment assets, total		1,349,405,072			334,264,478			921,490,230			329,106,496			-			2,934,266,276

Carrying amount in associates accounted for using the equity method, total		53,317,889			-			41,575,634			-			-			94,893,523

Segment disbursements of non-monetary assets		18,574,682			5,779,746			7,277,794			4,289,085			-			35,921,307

Current liabilities		274,445,455			93,373,582			119,947,298			29,550,049			-			517,316,384
Non-current liabilities		747,428,420			18,026,587			526,779,157			15,994,909			-			1,308,229,073
Segment liabilities, total		1,021,873,875			111,400,169			646,726,455			45,544,958			-			1,825,545,457

Cash flows (used in) provided by in Operating Activities		37,394,656			35,633,798			(1,655,891	)		20,143,501			-			91,516,064
Cash flows (used in) provided by Investing Activities		48,624,986			(5,779,746	)		(7,277,794	)		(4,289,085	)		-			31,278,361
Cash flows (used in) provided by Financing Activities		(33,966,263	)		(124,000	)		(714,291	)		-			-			(34,804,554	)

By item	03.31.2023		12.31.2022
	ThCh$		ThCh$
Cash		437,067		203,931
Bank balances		100,583,604		108,486,568
Other fixed rate instruments		158,247,165		182,991,488
Cash and cash equivalents		259,267,836		291,681,987

By currency	03.31.2023		12.31.2022
	ThCh$		ThCh$
USD		21,931,721		14,266,343
EUR		1,379,039		870,613
ARS		33,680,741		29,215,288
CLP		82,936,617		138,205,025
PYG		47,880,961		39,201,097
BRL		71,458,757		69,923,621
Cash and cash equivalents		259,267,836		291,681,987

	Balance
	Current				Non-current
Other financial assets	03.31.20223		12.31.2022		03.31.2023		12.31.2022
	ThCh$		ThCh$		ThCh$		ThCh$
Financial assets (1)		95,426,488		92,838,315		3,092,778		3,317,778
Financial assets at fair value (2)		152,052,819		170,206,554		82,077,642		75,297,737
Other financial assets measured at amortized cost (3)		-		-		15,259,137		16,237,196
Total		247,479,307		263,044,869		100,429,557		94,852,711

	Current				Non-current
Trade debtors and other accounts receivable, Net	03.31.2023		12.31.2022		03.31.2023		12.31.2022
	ThCh$		ThCh$		ThCh$		ThCh$
Trade debtors		194,072,092		238,146,331		53,922		56,781
Other debtors		27,028,942		39,798,245		549,444		483,139
Other accounts receivable		2,375,628		1,825,710		-		-
Total		223,476,662		279,770,286		603,366		539,920

	03.31.2023
	Credit amount ThCh$		Impairment provision ThCh$			Percentage %
Less than one month		183,080,008		(474,093	)		0.26	%
Between one and three months		7,932,803		(387,486	)		4.88	%
Between three and six months		1,078,929		(847,333	)		78.53	%
Between six and eight months		5,887,175		(2,812,098	)		47.77	%
Older than eight months		1,084,822		(416,714	)		38.41	%
Total		199,063,737		(4,937,724	)

Details	03.31.2023			12.31.2022
	ThCh$			ThCh$
Raw materials (1)		101,185,720			104,833,902
Finished goods		113,544,299			114,164,680
Spare parts and supplies		28,272,700			27,109,494
Work in progress		346,613			216,164
Other inventories		5,144,360			4,020,372
Obsolescence provision (2)		(4,625,835	)		(4,457,956	)
Total		243,867,857			245,886,656

Tax assets	03.31.2023		12.31.2022
	ThCh$		ThCh$
Monthly provisional payments		1,384,380		25,428,344
Tax credits		10,004,448		6,640,888
Recoverable taxes from prior years		10,053		473,424
Surplus Tax Credit		4,628,691		6,387,530
Other Recoverable Taxes		-		396,241
Total		16,027,572		39,326,427

Income taxes	03.31.2023			03.31.2022
	ThCh$			ThCh$
Current taxes
Foreign		(15,069,044	)		(11,104,776	)
National		(46,831,432	)		(29,676,532	)
Current tax expense		(61,900,476	)		(40,781,308	)
Deferred taxes
Foreign		(5,562,684	)		(4,437,847	)
National		31,457,600			4,792,800
Deferred tax expense		25,894,916			354,953
Income Tax expense		(36,005,560	)		(40,426,355	)

Reconciliation of effective rate	03.31.2023			03.31.2022
	ThCh$			ThCh$
Net income before taxes		81,103,023			74,639,752
Tax expense at legal rate (27.0%)		(31,625,815	)		(20,152,733	)
Effect of tax rate in other jurisdictions		(966,927	)		(150,239	)
Permanent differences:
Withholding and other non-taxable income		(3,510,949	)		(14,497,786	)
Non-deductible expenses		(987,428	)		(972,240	)
Tax effect on excess tax provision in previous periods		136,913			1,079
Tax effect of price-level restatement for Chilean companies		(1,753,874	)		(4,615,698	)
Subsidiaries tax withholding expense and other legal tax debits and credits		2,702,520			(38,738	)
Adjustments to tax expense		(3,412,818	)		(20,123,383	)
Tax expense at effective rate		(36,005,560	)		(40,426,355	)
Effective rate		44.4	%		54.2	%

	Rate
Country	2023			2022
Chile		27.00	%		27.00	%
Brazil		34.00	%		34.00	%
Argentina		35.00	%		35.00	%
Paraguay		10.00	%		10.00	%

	03.31.2023						12.31.2022
Temporary differences	Assets			Liabilities			Assets			Liabilities
	ThCh$			ThCh$			ThCh$			ThCh$
Property, plant and equipment		5,246,979			(55,416,851	)		5,351,293			(58,230,728	)
Obsolescence provision		1,800,261			-			1,871,168			-
ICMS exclusion credit		4,368,844			-			2,686,693			-
Employee benefits		2,714,069			-			5,033,868			(3,348	)
Provision for severance indemnity		2,553,633			(19,658	)		2,789,893			(42,264	)
Tax loss carry forwards (1)		3,106,666			-			5,569,124			-
Tax goodwill Brazil		-			(9,975,794	)		-			(9,081,512	)
Contingency provision		26,492,563			-			27,145,591			-
Foreign Exchange differences (2)		10,783,825			-			11,478,538			-
Allowance for doubtful accounts		854,432			-			803,608			-
Coca-Cola incentives (Argentina)		-			-			633,919			-
Assets and liabilities for placement of bonds		-			(598,444	)		-			(610,594	)
Financial expense		-			(1,718,163	)		-			(1,894,010	)
Lease liabilities		1,737,427			-			1,874,166			-
Inventories		1,192,081			-			1,312,833			-
Distribution rights		-			(150,781,790	)		-			(154,669,995	)
Hedge derivatives		-			-			-			-
Prepaid income		5,343,740			(15,039	)		5,339,265			(8,287	)
Spare parts		-			(4,357,230	)		-			(4,142,782	)
Intangibles		75,694			(7,080,178	)		69,395			(7,388,202	)
Others		2,893,983			(3,785,443	)		5,282,818			(4,520,673	)
Subtotal		69,164,197			(233,751,657	)		77,242,172			(240,592,395	)
Offsetting of deferred tax assets/(liabilities)		(67,042,262	)		67,042,262			(74,813,839	)		74,813,839
Total assets and liabilities net		2,121,935			(166,709,395	)		2,428,333			(165,778,556	)

Movement	03.31.2023			12.31.2022
	ThCh$			ThCh$
Opening balance		163,350,223			166,596,100
Increase (decrease) in deferred tax		4,988,591			(8,090,171	)
Increase (decrease) due to foreign currency translation(*)		(3,751,354	)		4,844,294
Total movements		1,237,237			(3,245,877	)
Ending balance		164,587,460			163,350,223

Property, plant and equipment, gross	03.31.2023		12.31.2022
	ThCh$		ThCh$
Construction in progress		54,402,121		49,169,567
Land		102,319,747		104,906,878
Buildings		328,454,165		337,689,681
Plant and equipment		676,022,080		693,153,093
Information technology equipment		34,795,000		34,992,575
Fixed installations and accessories		68,565,894		69,798,556
Vehicles		74,364,010		75,759,020
Leasehold improvements		343,516		362,243
Rights of use		73,970,923		73,946,435
Other properties, plant and equipment (1)		442,612,250		448,561,681
Total Property, plant and equipment, gross		1,855,849,706		1,677,828,019

Accumulated depreciation of Property, plant and equipment	03.31.2023			12.31.2022
	ThCh$			ThCh$
Buildings		(115,853,358	)		(117,237,092	)
Plant and equipment		(488,890,400	)		(499,070,234	)
Information technology equipment		(26,994,061	)		(27,257,028	)
Fixed installations and accessories		(43,198,315	)		(44,057,493	)
Vehicles		(43,540,162	)		(44,600,066	)
Leasehold improvements		(269,783	)		(282,057	)
Rights of use		(56,140,102	)		(53,350,442	)
Other properties, plant and equipment (1)		(300,343,399	)		(304,264,058	)
Total accumulated depreciation		(1,075,229,580	)		(961,448,892	)
Total Property, plant and equipment, net		780,620,126			798,221,259

Other Property, plant and equipment, net	03.31.2023		12.31.2022
	ThCh$		ThCh$
Bottles		45,665,694		46,351,209
Marketing and promotional assets (market assets)		70,062,739		70,149,875
Other Property, plant and equipment		26,540,418		27,796,539
Total		142,268,851		144,297,623

	Construction in progress			Land			Buildings, net			Plant and equipment, net			IT equipment, net			Fixed installations and accessories, net			Vehicles, net			Leasehold improvements, net			Others			Rights-of-use, net (1)			Property, plant and equipment, net
	ThCh$			ThCh$			ThCh$			ThCh$			ThCh$			ThCh$			ThCh$			ThCh$			ThCh$			ThCh$			ThCh$
Opening balance at 01.01.2023		49,169,567			104,906,878			220,452,589			194,082,859			7,735,547			25,741,063			31,158,954			80,186			144,297,623			20,595,993			798,221,259
Additions		22,879,282			-			-			2,996,941			157,205			3,764			31,542			7,087			14,152,826			-			40,228,647
Right-of use additions		-			-			-			-			-			-			-			-			-			452,792			452,792
Disposals		-			-			(6,707	)		(3,293	)		-			-			(17,229	)		-			(503,384	)		-			(530,613	)
Transfers between items of Property, plant and equipment		(16,796,328	)		-			2,169,029			5,659,766			990,873			1,085,454			2,111,208			-			4,108,978			671,020			-
Right-of-use transfers		-			-			-			-			-			-			-			-			-			-			-
Depreciation expense		-			-			(2,074,868	)		(8,184,053	)		(748,545	)		(857,390	)		(1,557,014	)		(9,978	)		(11,882,236	)					(25,314,084	)
Amortization																													(2,503,281	)		(2,503,281	)
Increase (decrease) due to foreign currency translation differences		(1,654,921	)		(2,587,131	)		(8,107,394	)		(6,789,375	)		(333,866	)		(641,908	)		(875,320	)		(3,562	)		(5,660,114	)		(709,205	)		(27,362,796	)
Other increase (decrease) (1)		804,521			0			168,158			(631,165	)		(275	)		36,596			(28,293	)		-			(2,244,842	)		(676,498	)		(2,571,798	)
Total movements		5,232,554			(2,587,131	)		(7,851,782	)		(6,951,179	)		65,392			(373,484	)		(335,106	)		(6,453	)		(2,028,772	)		(2,765,172	)		(17,601,133	)
Ending balance at 03.31.2023		54,402,121			102,319,747			212,600,807			187,131,680			7,800,939			25,367,579			30,823,848			73,733			142,268,851			17,830,821			780,620,126

Right-of-use	Gross asset		Accumulated depreciation			Net asset
	ThCh$		ThCh$			ThCh$
Constructions and buildings		7,691,279		(4,477,775	)		3,213,504
Plant and Equipment		45,700,806		(34,110,906	)		11,589,900
IT Equipment		1,120,961		(1,043,124	)		77,837
Motor vehicles		10,858,932		(8,018,476	)		2,840,456
Others		8,598,946		(8,489,822	)		109,124
Total		73,970,924		(56,140,103	)		17,830,821

Description	03.31.2023		03.31.2022
	ThCh$		ThCh$
Executive wages, salaries and benefits		4,373,557		3,595,729
Director allowances		390,000		390,000
Total		4,763,557		3,985,729

Movements	03.31.2023			12.31.2022
		ThCh$			ThCh$
Opening balance		17,409,793			14,982,928
Service costs		126,566			1,018,080
Interest costs		235,105			737,566
Actuarial variations		(679,483	)		2,905,020
Benefits paid		(682,948	)		(2,233,801	)
Total		16,409,033			17,409,793

Assumptions	03.31.2023		12.31.2022
Discount rate		1.71%		1.71%
Expected salary increase rate		2.0%		2.0%
Turnover rate		7.68%		7.68%
Mortality rate		RV-2014		RV-2014
Retirement age of women		60 years		60 years
Retirement age of men		65 years		65 years